The share price of Nifty & Bank Nifty future target for 9th Dec

 

Share price of Nifty and Bank Nifty future target for 9th Dec: Indian stock market opened positive today but profit-booking in the second half closed the market in the red. Nifty future closed below 12000 after making an all-time high 12196.05 on 28th November. The share price of Bank Nifty future also touched the record high on the same day at 32199.80.

Today the Nifty future opened at 17.5 points up from the previous close. It has touched an intraday high at 12082 and a day’s low at 11931. During the day the share price of Nifty future has given a movement of 151 points. In the end, it fell to 98.20 points and closed at 11949.50.

The share price of Bank Nifty Future opened at 31799.95 in the morning, a gap up of only 37.45 points. It has touched an intraday high of 31925 and day’s low at 31323. The Bank Nifty future has given an intraday movement of 602 points. At close, the Bank Nifty future was down 363.55 points and closed at 31398.95.

The nifty future share price target for  9th Dec19

Primary Trend Nifty Future: Mild down to Sideways

Range-Bound Trend of Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 12050 whereas All Down Moves Initiates Short Covering (Buy) @ 11900 

If Nifty future share price Moves Above 11998 and sustain. Then you should Buy with 1st Target of 12018 during the day with a Stop Loss of 11930 FOR the Target of 12018-12038- 12075

If Nifty futures share price Moves Below 11930  and sustain. Then you should Sell with 1st Target of 11897 during the day with a Stop Loss of 11998. FOR the Target of 11897- 11870- 11840

 

Bank nifty future share price target for 9th Dec19

Primary Trend of Bank nifty Future: Mild down to Sideways

Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 31930, whereas All Down Moves Initiates Short  Covering (Buy) @ 31070

If the share price of Bank Nifty Future Moves Above 31555  and sustain. Then you should Buy with 1st Target of 31675 during the day with a Stop Loss of  31350 FOR the Target of 31675 – 31778- 31974

If the share price of Bank Nifty Future Moves Below 31350 and sustained. Then you should Sell with 1st Target of 31180 during the day with a Stop Loss of 31555 FOR the Target of 31180 – 31070- 30950

 

Conclusions: 

The Indian share market was down today because of weak macro data, the outcome of RBI policy and FII’s fund outflow. All three factors mentioned are interrelated. Now the only hope at present is from the global front. If phase one trade deals signed by the US and China then the market sentiment may improve.

Traders can also follow our Nifty and share price target of Bank Nifty future for 9th Dec19.

 

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